Interim Results

Creightons PLC
21 December 2001

                Creightons plc ('Creightons' or 'the Company')

           Interim results for the 6 months ended 30 September 2001





Chairman's statement

I am pleased to be able to report to you that the Company has shown good sales
growth in the last half-year, (+£217,000, +11% over the previous half year's
sales of £1,955,000), reversing the trend of declining sales it has
experienced for a number of years, and confirming the stabilisation of the
business I reported to you in my annual report back in August.

This demonstrates the continual steady improvements in performance that the
new management team has been achieving over the past 18 months. These have
been made through a combination of greater focus on improved margin, and more
cost-effective control of manufacturing costs and overheads. The half-year's
loss before tax of £74,000 (30 September 2000: loss £61,000) stemmed from
one-off costs incurred as a result of reorganisation of the manufacturing
operation following the disposal of the under utilised parts of the site and
plant last February, and investment in the development of the Company's
branded haircare product ranges.

The Company has prioritised its sales efforts on more profitable products,
moving away from its historical reliance on relatively high volumes of
low-margin products where considerable production effort and resource was
required for comparatively little or even negative incremental contribution to
profits. I am also pleased to confirm that the Company's position as a
supplier to several High Street chains has been consolidated.

Over the past six months, the Company has also successfully repackaged its
branded BlondE range of haircare products, and launched complementary brands.
Trade and High Street distribution is now improving very satisfactorily, and
we look forward to these products beginning to make significant contribution
to operating profits.

The Company's manufacturing operation has settled down well to production
within the new, slimmed-down facilities on the reduced Storrington site. As
well as contributing to a reduction in the Company's financing requirements,
this move has enabled manufacturing to be more efficient and therefore gives
the Company a competitive cost advantage unavailable hitherto.

The Company is also continuing to maintain strict control of its
non-production overheads. However, modest investment has been undertaken in
product development, selling and marketing for the Company's branded haircare
ranges as an investment in these brands' and the Company's future.



William McIlroy

Executive Chairman

21 December 2001




Consolidated Profit and Loss Account
For the six months ended 30 September 2001
                                      6 months to    6 months to   Year ended
                                     30 September   30 September     31 March
                                             2001           2000         2001
                                            £'000          £'000        £'000
Turnover                                    2,172          2,449        4,404
Cost of sales                             (1,597)        (1,838)      (3,092)
Gross profit                                  575            611        1,312
Operating expenses                          (646)          (596)      (1,390)
Other operating income                         37              -           15
Exceptional operating expenses                  -              -        (154)
Operating profit/(loss)                      (34)             15        (217)
Exceptional income                              -              -          263
Net interest payable                         (40)           (76)        (145)
Loss on ordinary activities and
loss
Sustained for the period                     (74)           (61)         (99)
Loss per share                            (0.14)p        (0.10)p      (0.19)p
Loss per share before exceptional               -              -      (0.40)p
items
Profit per share on exceptional                 -              -        0.21p
items
Fully diluted loss per share              (0.14)p        (0.10)p      (0.19)p




Consolidated Balance Sheet
As at 30 September 2001
                                                     30           30  31 March
                                              September    September
                                                   2001         2000      2001
                                                  £'000        £'000     £'000
Fixed assets
Tangible assets                                   1,991        3,166     2,091
Current assets
Stocks                                              727          622       579
Debtors                                             952        1,044     2,036
                                                  1,679        1,666     2,615
Creditors
Amounts falling due within one year             (2,160)      (2,860)   (3,117)
Net current liabilities                           (481)      (1,194)     (502)
Total assets less current liabilities             1,510        1,972     1,589
Creditors
Amounts falling due after more than one            (15)        (365)      (20)
year
Net assets                                        1,495        1,607     1,569
Capital and reserves
Called up share capital                             517          517       517
Share premium account                             1,185        1,185     1,185
Other reserves                                       38           38        38
Profit and loss account                           (245)        (133)     (171)
                                                  1,495        1,607     1,569




Consolidated Cash Flow Statement
For the six months ended 30 September 2001

                               6 months to         6 months to      Year ended
                              30 September        30 September        31 March
                            2001      2001        2000    2000      2001  2001
                           £'000     £'000       £'000   £'000     £'000 £'000
Cash flow from
operating activities                 (103)                  84              41
Returns on
investments and
servicing of finance
Interest received              -                     -                 5
Interest paid               (38)                  (71)             (145)
Interest element of
hire purchase
payments                     (2)                   (5)               (5)
                                      (40)                (76)           (145)
Taxation
(paid)/received                          -                   -               -
Capital expenditure
Purchase of tangible        (22)                  (13)              (22)
Fixed assets
Sale of tangible
Fixed assets               1,243      1221                   -        84    62
Cash inflow/(outflow)
before financing
                                     1,078                 (5)            (42)
Financing
Repayments of
amounts borrowed           (410)                  (67)             (125)
Capital element of
hire purchase payments       (8)                  (25)              (65)
                                     (418)                (92)           (190)
Increase/(decrease)
in cash                                660                (97)           (232)





Notes to the Interim Report


1.      The interim report has been prepared using the same accounting policies 
as were used for the annual report and financial statements for the year
ended 31 March 2001.

        The interim financial statements do not constitute statutory accounts 
and they are unaudited. They have, however, been reviewed by the auditors,
whose report is included. Full year figures for the year ended 31 March
2001 have been extracted from the annual report and financial statements
for that year which received an unqualified audit opinion and have been
filed with the Registrar of Companies.

2.      The interim financial information has been prepared on a going concern
basis. The Directors have prepared projected cash flow information for a
period of 18 months from the date of this interim report.


        On the basis of these projections, the Directors consider that the
Company and the Group will continue to operate within the facilities
agreed with its bankers, which are repayable on demand, and that the
going concern basis is appropriate.

3.      Loss per share for the six months ended 30 September 2001 has been
calculated on 51,691,307 shares being the weighted average number of shares in
issue during the period. The loss per share for the year ended 31 March 2001
and for the six months ended 30 September 2000 was calculated on the same
number of shares.


        Fully diluted earnings per share is calculated by including dilutive
share options. Since the remaining share option has an exercise price
that is considerably higher than the market prices during the period,
the fully diluted loss per share is the same as that calculated on an
undiluted basis.

4.      No taxation charge has been included in view of the loss sustained and
the significant accumulated losses available from previous periods.

5.      The interim report is being sent to shareholders. Further copies can be
obtained from the Company's registered office, Unit 1, Water Lane Industrial
Estate, Storrington, Pulborough, West Sussex RH20 3DP.






Independent review report to Creightons Plc

Introduction

We have been instructed by the Company to review the financial information set
out above. We have read the other information contained in the interim report
and considered whether it contains any apparent misstatements or material
inconsistencies with the financial information.

Directors' responsibilities

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by, the directors. The Listing
Rules of the Financial Services Authority require that the accounting policies
and presentation applied to the interim figures should be consistent with
those applied in preparing the preceding annual accounts, except where any
changes, and the reasons for them, are disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin 1999
/4 issued by the Auditing Practices Board. A review consists principally of
making enquires of management and applying analytical procedures to the
financial information and underlying financial data and based thereon,
assessing whether the accounting policies and presentation have been
consistently applied, unless otherwise disclosed. A review excludes audit
procedures, such as tests of controls and verification of assets, liabilities
and transactions. It is substantially less in scope than an audit performed in
accordance with Auditing Standards and therefore provides a lower level of
assurance than an audit. Accordingly we do not express an opinion on the
financial information.

Review conclusion

On the basis of our review, we are not aware of any material modifications
that should be made to the financial information as presented for the six
months ended 30 September 2001.



Chantrey Vellacott DFK

Chartered Accountants



21 December 2001





Enquiries:





 William McIlroy, Creightons plc                                   01903 745611
 Nick O'Shea, Creightons plc                                       01903 745611